Common Agency Issues

April 1, 2008

According to NAR’s 2007 Legal Scan, agency issues remain a perennial worry for real estate brokers, especially:

  • Breach of fiduciary duty

    • Pitfall: Believing that the end justifies the means to close the deal
  • Dual agency

    • Pitfall: Focusing on whomever hired you first
  • Agency disclosure

    • Pitfall: Getting the listing instead of explaining the agency relationship
  • Minimum service agreements

    • Pitfall: Having to pick up the slack in deals when sellers choose the minimum